June, 17 2009, 05:16pm EDT
President Proposes New Credit Safety Agency for Consumers
Consumer Organizations Urge Fast Action to Create Strong, Independent Regulator
WASHINGTON
National consumer protection organizations applauded
President Obama's proposal to create a new federal Consumer Financial
Protection Agency to ensure the safety, fairness and sustainability of
credit. The agency would have broad powers to ensure that credit and
payment products do not have predatory or deceptive features that can
harm consumers or lock them into unaffordable loans.
"The international economic crisis was triggered by the failure of
federal regulators to stop abusive lending, particularly in the housing
sector," said Travis Plunkett, Legislative Director of the Consumer
Federation of America. "If the President's proposal had been in place
five years ago, this agency would have been able to better protect
consumers, financial institutions, and the entire economy."
Currently, seven federal regulatory agencies are charged with
protecting consumers in the financial services marketplace. Five of
these agencies also oversee the soundness of financial institutions.
The President's proposal would consolidate most federal consumer
protection efforts into a single agency.
"Too often, captive federal banking regulators have treated consumer
protection as less important or even in conflict with their supposed
primary mission to ensure the safety and soundness of financial
institutions," said Ed Mierzwinski, Consumer Program Director of U.S.
PIRG. "The President's proposal would streamline and dramatically
improve the current splintered, ineffective federal financial
regulatory system because the new agency would be required to make
consumer credit protection its top priority."
Under the President's proposal, the new agency would oversee all
credit and payment products, no matter what kind of financial
institution offers them. It would be charged with setting high
federal minimum standards, which would allow the states to impose
tougher requirements if warranted.
"The days of allowing financial institutions to shop around for the
weakest form of regulation are over," said Pamela Banks, Senior Policy
Counsel with Consumers Union. "Under the President's proposal, the
only regulatory competition that would exist would be to increase
consumer protections."
The President's proposal is very similar to legislation to establish
a Financial Products Safety Commission proposed by Senator Richard
Durbin and Representative William Delahunt (S. 566/ H.R. 1705). Both
Senate Banking Committee Chairman Christopher Dodd and House Financial
Services Chairman Barney Frank have endorsed the concept as well.
"The economic crisis has caused a painful loss of confidence in
financial products and institutions. It appears that no one was minding
the store," said Linda Sherry of Consumer Action. "We support the
creation of a new agency with powers to cut through the web of
financial regulations and strengthen consumer protections. We need a
watchdog to restore consumer confidence and increase the availability
of innovative financial products to promote wealth building and access
to capital for all communities."
"We need to get back to old fashioned values like safe, affordable
products that the good old Main Street banker used to offer. Consumers
should not have to fear that the fine print of their mortgage or credit
card is loaded with hidden tricks and traps that will explode on them,"
said Lauren K. Saunders, Managing Attorney of the National Consumer Law
Center.
Kathleen Keest of the Center for Responsible Lending said, "This
plan represents a leap forward in addressing regulatory failures that
led to today's financial crisis. By having a strong agency with the
explicit mission of preventing abusive lending, we'll ultimately build
a stronger economy and restore confidence in the credit markets."
"We urge Congress to act quickly on the President's proposal so a
strong, independent agency is in place to protect consumers in the
financial services marketplace by next year," said David Arkush,
Director of Public Citizen's Congress Watchdivision.
Public Citizen is a nonprofit consumer advocacy organization that champions the public interest in the halls of power. We defend democracy, resist corporate power and work to ensure that government works for the people - not for big corporations. Founded in 1971, we now have 500,000 members and supporters throughout the country.
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Watchdog Urges FEC to Investigate Trump Campaign Over Scheme for Legal Fees
"By not disclosing the vendors that actually provided legal services, the Trump-affiliated committees effectively blocked the public from knowing which attorneys and firms are being paid—and how much."
Apr 24, 2024
A campaign finance watchdog on Wednesday filed a Federal Election Commission complaint accusing former President Donald Trump's 2024 campaign, affiliated political groups, and an accounting firm of violating U.S. law in a scheme "seemingly designed to obscure the true recipients of a noteworthy portion of Trump's legal bills."
The Washington, D.C.-based Campaign Legal Center (CLC) said that "evidence appears to show an illegal arrangement between several Trump-affiliated committees and a compliance firm named Red Curve Solutions that is designed to obscure the identities of those providing legal services and how much they are being paid."
"Voters have a right to know how the presidential campaigns and other committees supporting presidential candidates spend their money."
CLC alleges that the Trump campaign, Trump's political action committee (PAC) Save America, and three affiliated organizations "violated federal reporting requirements based on a scheme in which the committees reportedly paid over $7.2 million—described as 'reimbursement for legal' costs or expenses"—to Red Curve.
The watchdog also said that Red Curve appears to be "making or facilitating illegal contributions that violate either federal contribution limits or the prohibition on corporate contributions."
According to CLC:
Red Curve is a domestic limited liability company that offers compliance and FEC reporting services but does not appear to offer any legal services. It is managed by Bradley Crate, who also serves as the treasurer for each of the five Trump-affiliated committees concerned in this complaint, as well as over 200 other federal committees.
According to filings with the FEC, Red Curve appears to have been fronting legal costs for Trump since at least December 2022, with Trump-affiliated committees repaying the company later. This arrangement appears to violate FEC rules that require campaigns to disclose not only the entity being reimbursed (here, Red Curve) but also the underlying vendor. By not disclosing the vendors that actually provided legal services, the Trump-affiliated committees effectively blocked the public from knowing which attorneys and firms are being paid—and how much they are being paid—through this arrangement.
"Voters have a right to know how the presidential campaigns and other committees supporting presidential candidates spend their money," CLC senior director of campaign finance Erin Chlopak said in a statement. "When campaigns and committees obscure that information from the public, not only do they make it difficult to determine if the law has been violated, but they deny voters the ability to make an informed choice when casting a ballot."
"The steps taken by the Trump campaign, its affiliated committees, and Red Curve Solutions concealed information about how campaign funds were used to pay former President Trump's legal expenditures, including the amounts and ultimate recipients of these expenditures—and the FEC must investigate immediately," Chlopak added.
Trump—who is the presumptive 2024 GOP presidential nominee—faces 91 federal and state felony charges related to his role in the January 6 insurrection and his organization's business practices. He is currently on trial in New York for allegedly falsifying business records related to hush money payments to cover up sex scandals during the 2016 election cycle. The twice-impeached former president has been open about his use of campaign donations to pay his legal costs.
The new CLC filing comes a day after the watchdog filed separate FEC complaints urging investigations into a pair of Trump-affiliated "scam PACs," which "pretend to fundraise for major candidates or issues while secretly diverting almost all of their donors' money back into fundraising or the fraudsters' own pockets."
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'One Step Closer': Arizona House Votes to Repeal 1864 Abortion Ban
"With a total ban still set to take effect June 8, the Arizona Abortion Access Act is needed now more than ever," one state campaigner said of a November ballot measure.
Apr 24, 2024
Three Republicans in the Arizona House of Representatives on Wednesday joined with Democrats to advance legislation that would repeal an 1864 ban on abortion—a development rights advocates welcomed while stressing that the fight is far from over.
The 32-28 vote on House Bill 2677—with GOP Reps. Tim Dunn (25), Matt Gress (4), and Justin Wilmeth (2) voting in favor—was the third attempt in as many weeks to pass repeal legislation since the Arizona Supreme Court upheld the ban.
"The state Senate could vote on the repeal as early as next Wednesday, after the bill comes on the floor for a 'third reading,' as is required under chamber rules," according toNBC News. Democratic Gov. Katie Hobbs on Wednesday toldThe Washington Post that "I am hopeful the Senate does the right thing and sends it to my desk so I can sign it."
Applauding the House passage of H.B. 2677, Planned Parenthood Advocates of Arizona president and CEO Angela Florez said that "today, Arizona is one step closer to repealing the state's Civil War-era total abortion ban. While the repeal still must pass the Senate, this is a major win for reproductive freedom."
"We must celebrate today's vote in support of abortion rights and harness our enthusiasm to spread the word and urge lawmakers in the Senate to support this necessary repeal bill," she continued. "Despite this step forward, Arizonans cannot stop fighting."
Florez noted that "even with the repeal of the Civil War-era ban, the state will still have a ban on abortion after 15 weeks of pregnancy that denies people access to critical care. And lawmakers continue to attack Arizonans' ability to access reproductive healthcare. Our right to control our bodies and lives is hanging on by a thread."
"Thankfully, voters will have the opportunity to take back control if the Arizona Abortion Access Act is on the ballot this November," she added. "Abortion bans are out-of-step with the will of Arizonans and will force pregnant people to leave their communities for essential healthcare. Planned Parenthood Advocates of Arizona will continue fighting to ensure everyone has the right to make decisions about their health and futures."
The Arizona Abortion Access Act is a proposed state constitutional amendment that would prevent many limits on abortions before fetal viability and safeguard access to care after viability to protect the life or physical or mental health of the patient.
The coalition supporting the amendment, Arizona for Abortion Access, highlighted on social media that the House-approved bill "did not include the emergency clause required to stop the 1864 ban from taking effect on June 8," meaning H.B. 2677 wouldn't apply until 90 days after the end of the legislative session.
Coalition campaign manager Cheryl Bruce said that "with a total ban still set to take effect June 8, the Arizona Abortion Access Act is needed now more than ever. We remain committed to taking these decisions out of the hands of extremist politicians."
Arizona is one of multiple states where rights advocates are promoting abortion rights ballot measures this cycle. Reproductive freedom is also dominating political races at all levels, including the presidential contest. Democratic President Joe Biden is set to face former Republican President Donald Trump in November.
"Donald Trump is responsible for Arizona's abortion ban. Women in the state are still living under a ban with no exceptions for rape or incest and have been stripped of the freedom to make their own healthcare decisions," said Julie Chávez Rodriguez, Biden and Vice President Kamala Harris' reelection campaign manager.
While the presumptive GOP nominee has tried to distance himself from the Arizona Supreme Court's reinstatement of a 160-year-old abortion ban, he has also campaigned on his three appointees to the U.S. Supreme Court who helped reverse Roe v. Wade.
"Trump brags that he is 'proudly' the person responsible for these bans and if he retakes power, the chaos and cruelty he has created will only get worse in all 50 states," Chávez Rodriguez said. "President Biden and Vice President Harris are the only candidates who will stop him."
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US Dodges Growing Calls for Probe of Mass Graves at Gaza Hospitals
"Somehow I don't think the U.S. State Department would defer to Russia as a credible source to investigate itself if a mass grave were discovered in Ukrainian territory it had occupied," said one legal expert.
Apr 24, 2024
While continuing to give Israel billions of dollars in support to wage war on the Gaza Strip, the Biden administration this week has declined to join the growing global demands for an international probe into mass graves discovered at hospitals in the besieged Palestinian enclave.
Two journalists on Tuesday questioned Vedant Patel, a spokesperson for the U.S. State Department, about the administration's response to the hundreds of bodies found at Gaza City's al-Shifa Hospital and Nasser Hospital in Khan Younis as well as United Nations High Commissioner for Human Rights Volker Türk's call for an independent investigation.
"Would you support such an independent investigation?" Said Arikat asked during a press briefing. Patel responded, "Right now, Said, we are asking for more information... That is squarely where we are leaving the conversation."
Patel added that "I don't have any details to match, confirm, or offer as it relates to that. We're aware of those reports, and we have asked the government of Israel for additional clarity and information. And that's where I'm at."
When Said asked a follow-up about potential U.S. support for a probe, Patel reiterated that the administration is awaiting information from the Israeli government.
Later, Niall Stanage asked Patel to explain U.S. "resistance" to supporting a probe, the spokesperson insisted that "it's not about resistance to this particular situation, it is me not wanting to speak in detail about something which Said posed as a hypothetical question when, from the United States' perspective, I don't have any additional information on this aside from the public reporting."
After Patel again stressed that the administration has asked Israel for more information, Stanage inquired, "And do you believe the government of Israel is a credible source in enlightening you?"
The spokesperson interrupted Stanage to say, "We do."
While supporting the six-month Israeli assault on Gaza that the International Court of Justice has found to be plausibly genocidal, the Biden administration is also arming Ukrainians' resistance to a Russian invasion. Brian Finucane, a senior adviser for the Crisis Group's U.S. program and a former legal adviser at the State Department, pointed to the latter.
"Somehow I don't think the U.S. State Department would defer to Russia as a credible source to investigate itself if a mass grave were discovered in Ukrainian territory it had occupied," Finucane said on social media in response to Stanage's questioning.
Meanwhile, European Union spokesperson Peter Stano made clear Tuesday that the E.U. supports an independent probe.
"This is something that forces us to call for an independent investigation of all the suspicions and all the circumstances, because indeed it creates the impression that there might have been violations of international human rights committed," Stano said. "That's why it's important to have independent investigation and to ensure accountability."
Human rights groups around the world joined the call for an independent investigation on Wednesday, as the official death toll in Gaza hit 34,262 with 77,229 people injured and thousands more missing and presumed dead beneath the rubble.
In an Arabic statement translated by Al Jazeera, the Euro-Mediterranean Human Rights Monitor said that the number of bodies found in the mass graves is "alarming, and requires urgent international action, including the formation of an independent international investigation committee."
The group added that some of those killed were subjected to "premeditated murder as well as arbitrary and extrajudicial executions while they were detained and handcuffed."
Amnesty International senior director of research, advocacy, policy, and campaigns Erika Guevara Rosas said in a statement that "the harrowing discovery of these mass graves underscores the urgency of ensuring immediate access for human rights investigators, including forensic experts, to the occupied Gaza Strip to ensure that evidence is preserved and to carry out independent and transparent investigations with the aim of guaranteeing accountability for any violations of international law."
"Lack of access for human rights investigators to Gaza has hampered effective investigations into the full scale of the human rights violations and crimes under international law committed over the past six months, allowing for the documentation of just a tiny fraction of these abuses," she noted. "Without proper investigations to determine how these deaths took place or what violations may have been committed, we may never find out the truth of the horrors behind these mass graves."
Guevara Rosas continued:
Mass grave sites are potential crime scenes offering vital and time-sensitive forensic evidence; they must be protected until professional forensic experts with the necessary skills and resources can safely carry out adequate exhumations and accurate identification of remains.
The absence of forensic experts and the decimation of Gaza's medical sector as a result of the war and Israel's cruel blockade, along with the lack of availability of the necessary resources for the identification of bodies such as DNA testing, are huge obstacles to the identifications of remains. This denies those killed the opportunity to have a dignified burial and deprives families with relatives missing or forcibly disappeared the right to know and to justice—leaving them in a limbo of uncertainty and anguish.
Noting that the International Court of Justice directed Israel to preserve evidence in its initial genocide case order, Guevara Rosas said that "amid a total vacuum of accountability and mounting evidence of war crimes in Gaza, Israeli authorities must ensure they comply with the ICJ ruling by granting immediate access to independent human rights investigators and ensuring that all evidence of violations is preserved."
"Third states must pressure Israel to comply with the ICJ orders by allowing the immediate entry into the Gaza Strip of independent human rights investigators and forensic experts, including the U.N.-appointed Commission of Inquiry and investigators of the International Criminal Court," she added. "There can be no truth and justice without proper, transparent independent investigations into these deaths."
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